on VEOLIA (EPA:VIE)
Veolia issues €850 million hybrid debt
Veolia announced the success of its €850 million hybrid bond offering. This perpetual deeply subordinated bond has a coupon of 4.322% and a first reset date of January 2033. The market responded strongly, with nearly 200 investors submitting orders for a total of €4.7 billion, representing an oversubscription rate of more than 5.5 times.
The exceptional demand enabled Veolia to obtain a negative premium of -5 basis points, reflecting investors' confidence in the group's financial strength. Emmanuelle Menning, Veolia's Deputy CEO, emphasized that this successful transaction reflects the group's ability to finance itself in uncertain macroeconomic conditions.
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